Rs 30 Cr to be invested in deeptech hardware and software startups under Velocity Fast Track Startup Funding Program

Rs 30 Cr to be invested in deeptech hardware and software startups under Velocity Fast Track Startup Funding Program

Applications for the accelerator program will open on 21 May and close on 9 June.


Mumbai: SanchiConnect, a deeptech enablement network in partnership with YourNest Venture Capital has announced a scale-up accelerator specifically tailored for deeptech hardware and software startups with core IP. This collaborative initiative aims to provide selected startups with essential resources, mentorship, and funding to catalyse their growth. Applications for the accelerator program will open on 21 May and close on 9 June. Roadshows will be conducted across five major cities in Mumbai, Hyderabad, Chennai, Bangalore, and Delhi, across deeptech hubs such as IIT Bombay (SINE), the Indian Institute of Science (IISC), Nasscom, T-Hub, and CSIR–Centre for Cellular and Molecular Biology (CCMB), offering startups the opportunity to engage directly with program organisers and mentors.

The accelerator program will offer upfront funding of $500k to 5-8 promising startups, followed by an intensive 60-day program focusing on go-to-market and international collaborations. This program will culminate in a demo day, providing startups with a platform to showcase their innovations to potential investors and stakeholders from around the world.

Commenting on the accelerator program, YourNest executive director and fund manager Girish Shivani said -  " At YourNest, our commitment to nurturing DeepTech startups has been the focus of our thesis since inception. And in 2020, we pioneered the concept of fast-track funding with our unique SOAR program in the midst of the pandemic. This initiative now moves to the next level with our partnership with SanchiConnect in this Accelerator Program and underscores our commitment to catalysing India’s DeepTech startup ecosystem. By providing startups with faster funding we aim to spur their growth and contribute to the advancement of technology-led innovation. We look forward to working closely with the selected startups and accelerating their journey towards success."

"I am incredibly excited about the launch of our Accelerator Program in partnership with YourNest. This collaboration represents a significant step forward in our mission to empower deeptech startups and foster innovation in emerging technologies. Through this program, we aim to provide startups with the necessary resources, mentorship, and funding to accelerate their growth trajectory and make a meaningful impact in their respective industries." said SanchiConnect CEO Dr Sunil Shekhawat.

Startups selected to participate in the program will benefit from personalised mentorship sessions with successful founders and domain experts. These sessions will offer valuable insights and guidance to help startups navigate challenges and capitalise on opportunities, thereby accelerating their path to success.

The program will focus on a wide array of cutting-edge technologies, including artificial intelligence/machine learning, augmented/virtual/mixed reality, autonomous systems, developer tools, electric vehicle/battery/charging systems, electronics system design and manufacturing (ESDM), genomics, hardware, industrial IoT, materials technology, quantum compute, robotics, enterprise SaaS and wearables.

Early-stage startups based in India, focusing on deeptech hardware or software with core IP, and showing promising signs of commercialization or generating revenue are encouraged to apply. The program is open to startups across various sectors such as agritech, adtech, biotech, consumer/retail, energy, martech, manufacturing, foodtech, green energy, mobility/transportation, spacetech, health tech/medtech, media/entertainment, enterprise tech, and telecom.